HOW WE THINK ABOUT money affects almost every aspect of our lives. All the landmark decisions we make have a thread of money influence running through them. I’m talking about college, career, marriage, kids, the people and places we associate with—even how we spend our time. If we don’t make these decisions intentionally, we’ll drift downstream, carried by the current of the most popular money management ideas. That brings me to a study recently published by the Journal of Retirement and entitled, “The Life-Cycle Model Implies that Most Young People Should Not Save for Retirement.” The...
